Netwealth

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Overview


Import investments into Simple Fund 360 via a daily data feed from Netwealth.

Authority Process


Authority can be granted using one of the below options:

Authority Process Authority Form
Adviser Level

The purpose of this form is to allow an authorised representative to request Netwealth to begin sending data to Simple Fund 360 set out in this form. Please note that the data feed will apply to all clients who are linked to the adviser code.

Click here for the Adviser Level authority form.

Direct Client

The purpose of this form is to allow you to request Netwealth to begin sending data to Simple Fund 360 for a fund.

Click here for the Direct Client authority form.

Navigation


 

From the Main Toolbar, go to Connect.
Select Feed Management from the list.

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Select the Wraps and Platforms Global tab.

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Setup - Simple Fund 360


  1. From the Wrap and Platform Global tab, select (+) Setup.

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  2. The Setup Wrap and Platform Feed screen will display. By default, the fund will be selected.
  3. Select Netwealth as the Feed Provider and input the External Account ID.

  4. Select the Bank Account created for the Netwealth data feed.

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    Note: if data has been entered manually for this feed prior to its activation, input a "Do not import data before date" in the relevant field to the last date of manual data entry. 

     

    Note: Selecting Advanced Options will display a drop-down of any bank or other non-unitised investments appearing in the Security Code chart. This chart will contain the relevant mapping codes used by the feed to load data to the correct account. These fields will be empty until the feed is operating.

    Potential Duplicate Accounts

    If you do not set this up, the feed will automatically create new accounts and you might end up with duplicate accounts.

     

  5. Select Save. This step will need to be completed for each fund that will be using the Netwealth feed in Simple Fund 360.

Feed Activation


Once the feed has been saved, the feed will appear with the status Awaiting Transactions, with the toggle set to On. Do not switch this off.

Simple Fund 360 will automatically load transactions from the date of activation. Note: If historical data has been requested this may also take up to 30 days to feed through.

Import


The following information is imported through the data feed:

  • Investment movements (purchases and disposals)
  • Income transactions (dividends, distributions and bank interest)
  • Bank transactions
  • Foreign share market transactions

How will transactions be coded?

All cash and investment transactions will be allocated to the correct account in Simple Fund 360. For purchases of new investments not previously held by the fund, new accounts will be created and transactions will be automatically allocated.

Which transactions will be matched?

Investment transactions (purchases and disposals) will be automatically matched to their corresponding Cash transactions by Simple Fund 360.  Dividends and distributions will be matched to account 23900 and 23800 respectively during upload using the ASX codes. Interest income will also be automatically coded to the linked 25000 interest account.

 

Can historical transactions prior to the feed activation be uploaded?

Yes. Historical transactions are requested upon feed activation for Simple Fund 360. Perform a transaction re-request to obtain historical data.

 

What is the turnaround time for feed commencement once an authority has been provided to BGL?
Approval for daily feeds may vary between 10-15 business working days.


What if the feed is splitting transactions across several bank accounts? 

The Netwealth system records transactions to CASH99 and MACASH separately. In reporting they consolidate MACASH and CASH99 as one cash pool for some reports, but not all.
An example of a report where we would show current balance of each separate account is the ‘Portfolio Valuation (new format)’ report. Our ‘Transaction Listing’ report will also provide a breakdown of MACASH and CASH99 transactions and mark the MACASH transactions as ‘Managed Account’ or ‘MA’.

Foreign share market transactions. (coming soon)

Simple Fund 360 will now support foreign investment data via the Netwealth data feed. For any Netwealth feeds that were setup before the 10/10/2019, Foreign Investment Data will be disabled to avoid any data duplication. To enable navigate to the Wraps and Platforms section and edit on the Netwealth Feed. To enable switch the toggle on for Import Foreign Investment Data. 92.png

Re-Request


  1. From within the Wraps and Platforms Global tab, select the fund(s) to complete the re-request for.

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  2. Select the Re-request transactions button that has appeared at the top of the screen.

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  3. From the Re-Request Transactions screen, input the dates Do Not Load Before (earliest import date) and Do Not Load After (last import date). Transactions within this date range will be requested and imported.

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  4. Select Import.

Important

The re-request function can be used to import historical transactions.

Distribution transactions and tax components


Simple Fund 360 automatically updates wrap feed distribution transactions with their respective final tax components when the annual statement is made available.

For more information, please refer to Distribution transactions and tax components

 

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Comments

1 comment
  • Hi team,
    We have just been informed by Netwealth that where an adviser is linked to a client's NetWealth account you must use the "Adviser Level" authority form. This won't necessarily "apply to all clients who are linked to the adviser code" - it has the option to just authorise client by client. The "Direct Client" form is only applicable where the client is managing their own portfolio. Hope that makes sense.
    Christine

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